The BLBlog

The embattled Peanut Corp. of America has filed for bankruptcy in the Western District of Virginia.
The Lynchburg-headquartered company is facing a federal criminal investigation and an expected flood of lawsuits over peanut products allegedly tainted with salmonella bacteria.  PCA’s insurance company recently filed suit in Lynchburg, asking a judge to limit the insurer’s exposure for […]

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After a merger bid failed, the Roanoke-based Shenandoah Life Insurance Company has been placed in receivership.
The news comes from the State Corporation Commission, which says both the company and the SCC agreed “the receivership was necessary to protect the interests of policyholders and creditors.”
From the SCC news release:
Shenandoah Life lost approximately $50 million when the […]

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Virginia-based title insurer LandAmerica will be out of business by the end of the year.
The Richmond Times-Dispatch reports on a notice filed with the state indicating that 291 LandAmerica employees will be let go, including the chief financial officer and the chief legal officer.
Bankruptcy law professor Robert M. Lawless said, “This is what’s known as […]

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